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Essential Facts on IRS Tax Audits

A tax audit is an examination of your tax returnu2019s information and is conducted by IRS agents. The examination is conducted to ensure that all the reported data is correct and follows proper procedures and laws.

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Essential Facts on IRS Tax Audits

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  1. Essential Facts on IRS Tax Audits www.agroaccounting.com

  2. Introduction A tax audit is an examination of your tax return’s information and is conducted by IRS agents. The examination is conducted to ensure that all the reported data is correct and follows proper procedures and laws. A tax audit makes people stressed, nervous and paranoid. Thus, you should learn the important facts about a tax audit: www.agroaccounting.com

  3. Meager Chances of an Audit The probability of getting audited by the IRS is quite low if you fall under middle-to-lower income brackets. Since the chances are low, you should be prepared rather than stressed :) www.agroaccounting.com

  4. IRS audits focus on the past 2-3 years of tax filings Filings that took place several years ago are not considered. But, audits hosted in the last 2-3 years are considered, and more information might be gathered against you. www.agroaccounting.com

  5. Claiming that a Huge Portion of your Income goes to Charity If an individual claims that a huge portion of their income goes to charity, then the IRS would want to scrutinize their tax return more thoroughly. www.agroaccounting.com

  6. Final Thoughts: The above-given points about IRS audits are essential knowledge. One must always seek the help of a professional accountant consultant for freelancers: they assist you and help you ease your tax preparation and audit worries. www.agroaccounting.com

  7. CONTACT US https://www.agroaccounting.com basil@agroaccounting.com (888) 247-6829 25 Taylor Street San Francisco, CA 94102

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